The South West’s jobs market is the best performing in the country, new figures have revealed.
Unemployment fell by 11,000 to 156,000 between March and May in the region, giving it the UK’s lowest jobless rate of 5.8%.
Across the UK, in the three months to May, unemployment fell by 57,000, and employment rose by 16,000.
But long-term unemployment is and while youth unemployment fell by 20,000, it remains at more than 950,000.
Ministers said the figures show the recovery was taking hold, but critics said the human costs were still too high and most of the new jobs are low-paid and part-time.
Phil Smith, managing director of Business West, the business organisation which runs the Swindon Initiative, said: “With employment rising and unemployment falling, the labour market remains an area of strength for the UK economy. There are some areas of concern, however. Long-term unemployment is up and youth unemployment, while edging down, is still too high.
“But at a time when the Government’s austerity plan remains in force and the public sector is shrinking, it is reassuring that the private sector is willing and able to create jobs.
“However, the Government and the Bank of England can do more to help businesses continue to create jobs. The positive measures announced in the Spending Review, such as providing more support for exporters and infrastructure projects, should be implemented as soon as possible, and further efforts are needed to increase the flow of credit to viable businesses.”
Shadow Work and Pensions Secretary Liam Byrne said: “Any shred of progress on jobs is welcome but today’s figures show that economic recovery is so weak that pay is plummeting.
“We are now creating jobs 10 times more slowly than this time last year and there are more part-timers looking for full-time work than ever before.”
